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The car rental market has become very active in the capital city as the Tet (Lunar New Year) holiday approaches. A small survey by the Vietnam News Agency of rental car streets of Ha Noi showed the mid-range segment of passenger cars with four to seven seats is nearly completely sold out almost one month before Tet. If customers want to rent a car, they will have to commit to renting it for the entirety of the break, which lasts from February 2 to 10. On rental car streets including Tran Khat Chan, Thai Thinh, Xa Dan and Hoang Mai, the shortage of cars and increasing demand have pushed prices up 20-30 per cent compared to normal rates, touching VND7 million-VND25 million (US$301-$1,075) per car, depending on the model. The difference in price between manual and automatic transmission cars ranges from VND100,000 to VND200,000 per day. Although rental prices have increased, there is not enough stock of popular models such as the Honda CR-V and Toyota Fortuner. Rather than raising prices, … [Read more...] about Car rental market busy before Tet holiday

VietNamNet Bridge - Vietnam’s car rental market is believed to have great potential but high risks as well. Enterprise Rent-A-Car, the US-based car rental company with annual revenue of $22 billion, has announced its operation in Vietnam. A representative of the company said Vietnam is the first Asian market that Enterprise Rent-A-Car has entered, explaining that Vietnam is a large market but supply remains inadequate. The service providers are mostly small companies or household-run businesses. Vietnam’s car rental market is expected to grow rapidly thanks to the continued surge in foreign investment, expected to last at least for 10 more years. As more foreign workers flock to Vietnam, the car rental demand will soar. He noted the strong rise of the middle class in Vietnam and the young generation which has a different lifestyle than their parents and grandparents. They do not attach much attention to owning luxurious cars and living in large houses, but care about … [Read more...] about American car rental company enters market

Only in the last 10 years has the rental sector for cars started to reach heights seen elsewhere, with the arrival of major international firms, Photo: Le Toan Despite Tet holiday being over a month away, a young Ho Chi Minh City couple living with a three-year-old child are trying to find places to rent a car to return home to the southern province of Dong Nai during the Lunar New Year. “Car rental costs have doubled in the run-up to Tet, and are harder to find due to lack of cars. For us, it remains the preferred mode of transport for certain routes, where air and rail travel are not available,” the husband said. The car rental demand has been increasing fast in recent years across Vietnam, from budget to luxury cars, and not only for Tet holiday. The sector is expected to heat up with the recent announcement that the world’s largest car rental provider, Enterprise Holdings, is to enter Vietnam, making the country the first stop for the Enterprise Rent-A-Car … [Read more...] about Car rental market accelerates

The Hanoitimes - Vietnam is an increasingly important business destination and access to high end transport has been an untapped market potential. A representative of Enterprise Rent-A-Car Vietnam said the country’s rental car market remains huge but the service is inadequate, citing it as a reason for the US largest car rental provider Enterprise Holding to open its business in Vietnam. Illustrative photo. The representative told local media that the Vietnamese market is on the rise, thanks to strong growth momentum of foreign direct investment in at least 10 years, leading to an increasing influx of expats. Moreover, Vietnam’s middle class, especially the young generation has new lifestyle, for which they now focus on the quality of life and experience by renting a car, instead of spending a fortune to buy a luxury car. On November 29, Enterprise Holding announced that its Enterprise Rent-A-Car brand is now available for the first time in … [Read more...] about Vietnam’s car rental market potential remains huge: Enterprise Rent-A-Car

The world's largest car rental servicer, Enterprise Holdings, recently announced that its Enterprise Rent-A-Car service is now available in Vietnam. The move is part of Enterprise Holding’s goal to expand its car rental services across the Asia Pacific region. Enterprise Rent-A-Car will operate in Vietnam through its Vietnamese franchise partner MP Logistics. Cuong Dang, general director of Enterprise Rent-A-Car Vietnam, said the company currently has 300 rental cars, from 5 to 47 seaters, available in Ho Chi Minh City. The service is scheduled to be expanded to Hanoi and Da Nang in the first quarter of 2019. Rent-A-Car’s initial strategy will be to grow a base of corporate customers, foreign employees of multinational companies with operations in Vietnam. The initial emphasis will be on long-term rentals with a chauffeur. Later, it will expand its services to include short-term, chauffeur-driven options, self-drive rentals and leisure hire at popular … [Read more...] about World’s largest car rental firm drives into Vietnam